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Whilst the precise methods may vary, the essence of APP fraud is that a payer such as a bank account holder (the Payer) consents to a payment to a hitherto unknown third party account.
Former Premier League footballer Colin Hendry said he will be seeking compensation if an investigation into Kingsbridge Asset Management proves its staff conspired to defraud a large number of its high net worth clients.
Life savings have been stolen from TSB accounts by fraudsters "exploiting" the bank's IT problems, with 1,300 people losing money.
TSB chief executive Paul Pester has apologised “profusely” to customers who suffered fraud as a result of the IT problems that caused chaos for the bank as he appeared for a second time before MPs.
The suspected organised crime group has allegedly laundered millions of pounds through retail banks in the City of London.
A young man from Enfield who allowed his account to be used by fraudsters to transfer funds has was sentenced at Inner London Crown Court, and received a 12 month community order and 280 hours of unpaid work.
The Sanctions and Anti-Money Laundering Act 2018 received Royal Assent on 23 May 2018. Prior to this Act the UK's domestic sanctions regimes were confined to terrorism legislation.
The policy development update provides some information on recent and upcoming FCA publications but should not be regarded as comprehensive.
Is the cryptocurrency a big fraud or wise investment?
With UK finance fraud losses standing at £618 million in 2016 (Financial Fraud Action UK), fraud is no laughing matter.
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014